Recently, I received a question from a retired couple in the Concord area regarding title issues. The house is not jointly titled; it is solely in one spouse's name, and they wanted to know what happens to the spouse not on the title when applying for a reverse mortgage. Such questions come up more often than you might think. There are three main points to consider.

The first is age and residency requirements. HECM requires at least one borrower to be 62 years or older, and the home must be the primary residence (hud.gov). If the spouse not on the title is under 62, it's important to check whether they can be classified as a non-borrowing spouse and if they qualify for any protective provisions. The second point is the assessment of financial capability. Lenders will evaluate whether the applicant can continue to pay property taxes and insurance in the future (hud.gov). The third point is whether there is an existing mortgage balance; if there is, it's crucial to determine if it can be paid off with the reverse mortgage funds.

Looking at housing prices in Concord, according to Zillow's updated data as of April 30, 2026, the average home value is $449,637, which has increased by 3.9 percent over the past year (zillow.com). The recent market trends show that home prices in the New Hampshire area are steadily rising. Given this level of home value, the available equity is not insignificant.

However, New Hampshire is a state where property tax burdens must be carefully considered. The average effective tax rate statewide is 1.67 percent (taxbycounty.com, based on 2026 data), nearly double the national average of 0.88 percent. Since New Hampshire has no income or sales tax but a high property tax burden, it's essential to first confirm whether there is enough capacity to continue paying property taxes even if receiving a lump sum or monthly payments from a reverse mortgage. Failing to keep up with these payments could lead to default, which cannot be overstated.

Cost considerations should also be included in the assessment. Including origination fees and mortgage insurance (initially about 2 percent and an annual rate of 0.5 percent), the upfront costs are higher than a traditional mortgage (consumerfinance.gov). However, since it is a non-recourse loan structure, even if the home value falls below the loan balance later, the heirs are not obligated to repay the difference due to FHA insurance, which can be seen as a safety feature. Nonetheless, the fact remains that over time, the equity decreases, reducing the assets left for children.

Some individuals who have moved to New Hampshire may find themselves surprised by the property tax rates compared to their previous states. Because the financial structure relies on property taxes instead of income or sales taxes, it's crucial to allocate the funds received from a reverse mortgage not only for living expenses but also for property tax payments. Whether to receive payments monthly or to draw from a line of credit as needed should realistically align with the tax schedule.

In New Hampshire, the percentage of the population aged 65 and older is 20.2 percent, which is higher than the national average (census.gov, based on 2024 estimates). Given that this area has a significant retired population, the demand for such consultations is likely to continue. Before applying, it is necessary to undergo mandatory counseling with a HUD-approved counseling agency, and individual circumstances, such as the spouse's name on the title, should be specifically addressed during the counseling process. It's never too late to make a decision after discussing it thoroughly with family.

In New Hampshire, each county has designated HUD-approved counseling agencies, and counseling can be conducted in person or over the phone. If both spouses participate in the counseling, they can confirm each other's rights and responsibilities simultaneously, which can help reduce misunderstandings regarding title or inheritance later on. Counseling fees are typically low or may be waived based on income, so it is not advisable to postpone counseling due to cost concerns. This article is not investment or legal advice, and it is recommended to consult with a professional before entering into any agreements.